Meat Substitutes Market Analysis - Global Industry Size, Share, Trends and Forecast 2020 - 2027

Increased prevalence of such disorders improves overall wellbeing and wellness, which in turn would fuel growth in the industry.

The quick development of the foodservice industry and the enticing advertisement and advertising strategies of vegetarian firms have also had a positive influence on the global demand growth. But a steady spike in novel releases of low-cholesterol meat products such as leans in emerging markets limits the expansion of the demand for meat substitutes. On the opposite, growing health issues have raised the number of customers in developing countries who favour vegetarian products, which is expected to provide industry leaders with attractive opportunities to introduce groundbreaking meat substitution products in future years.

Segment Analysis by Region

In 2018, shoppers consumed over 4.4 billion meat-free diners according to figures from retail purchases in the UK market. The demand for meat alternatives is growing at the forefront of customer consumption. In addition, customers were able to buy goods free of additives, in addition to meat-free goods. Some of the main reasons that make demands for meat alternatives simpler include public health literacy, environmental conservation values, and the increased cost of meat. In terms of awareness of food supplies, animal health concerns, and environmental effects during decision making on buying, trends at most are driving the change in use of meat alternatives.

Report coverage

Market	Global Meat Substitutes Market
Analysis Period	2016 – 2027
Base Year	2019
Forecast Data	2020 – 2027
Market Stratification	Product, Source, Category, and Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Key Industry Players

Some of the major players in meat substitutes market share include Garden Protein International, Amy's Kitchen, ADM, Meatless, MorningStar Farms, VBites, Beyond Meat, DowDuPont, MGP Ingredients, The Nisshin OilliO Group, Sonic Biochem Limited, Quorn Foods, and other. Owing to the existence of many small players, the demand for meat alternatives is extremely competitive. Through acquiring small meat substitute firms, major players such as Kellogg, Conagra Brands Inc. and the Campbell Sup Group joined the market. In 2017, Pacific Foods from Oregon LLC, which is US$ 700 million, was purchased by Campbell Soup Company. The transaction is expected to add in the rising natural and organic sector and improve Campbell's health and wellness portfolio. Important market share on the market of meat substitution is being sought by other small players in the North American area, including Amy's kitchen Inc, Beyond meat Inc. and Impossible Foods Inc. Owing to the strong demand for meat replacement goods, Europe has seen a rising amount of sales from companies such as Quorn, Vivera, Beyond Meat and Schouten.

COVID-19 Impact

In the context of a global pandemic crisis, the food & drink sector saw first increased demand for consumer foods, nutritious food and consumable products with longer shelf lives, and the permanent lockout across continents. A large rise was seen during the early stages of the crisis in the market for frozen food products, fruit and vegetables, eggs, flour and corn, among other items. Today, most firms in the market face poor demand usage and threats to the supply chain. In an effort to conform to present market climate, the businesses concentrate more on changing their supply chains to improve their web presence and distribution behavior. Market purchasing behavior changes, as well as disruptive shifts to online and D2C platforms may have a major effect on the industries near-future growth. Our staff works tirelessly on these aspects in our research in order to provide you with up-to-date, accurate details and forecasts on the market.

Market Segmentation

Market By Product

Tofu-based

Tempeh-based

TVP-based

Seitan-based

Quorn-based

Others

Market By Source

Soy

Wheat

Mycoprotein

Market By Category

Frozen

Refrigerated

Shelf-Stable

Market By Region

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa